Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) Q3 2024 Earnings Conference Call November 6, 2024 4:30 PM ET

Company Participants

Latha Vairavan - Vice President, Finance and Investor Relations
Frank Watanabe - President and CEO
Todd Edwards - Chief Commercial Officer
Patrick Burnett - Chief Medical Officer
David Topper - Chief Financial Officer

Conference Call Participants

Vikram Purohit - Morgan Stanley
Seamus Fernandez - Guggenheim Securities
Uy Ear - Mizuho
Serge Belanger - Needham & Co.
Kambiz Yazdi - Jefferies

Operator

Good day, and welcome to the Arcutis Biotherapeutics 2024 Third Quarter Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded.

Now I'll pass the call to Latha Vairavan, Vice President, Finance and Investor Relations. Please go ahead.

Latha Vairavan

Thank you, Carmen. Good afternoon, everyone, and thank you for joining us today to review our third quarter 2024 financial results and business update. Slides for today's call are available on the Investor section of the Arcutis website. On the call today, we have Frank Watanabe, President and CEO; Patrick Burnett, Chief Medical Officer; Todd Edwards, Chief Commercial Officer; and David Topper, Chief Financial Officer.

I would like to remind everyone that we will be making forward-looking statements during this call. These statements are subject to certain risks and uncertainties, and our actual results may differ. We encourage you to review all the company's filings with the Securities and Exchange Commission, including descriptions of our business and risk factor.

With that, let me hand the call over to Frank.

Frank Watanabe

Thank you, Latha, and thank you to everyone for joining us today. With that, let me turn to Slide 5 of the deck. I'm pleased to report that we maintained our robust growth trajectory in the third quarter, and I'm constantly impressed by the entire Arcutis team and its exceptional execution.

Our expanding ZORYVE portfolio now encompasses psoriasis, seborrheic dermatitis, and atopic dermatitis, providing physicians and their patients multiple forms of ZORYVE cream and ZORYVE foam to address their needs. ZORYVE is the first and only topical anti-inflammatory agent with indications for all three of these very highly prevalent conditions and physicians are becoming increasingly familiar with our product portfolio.

ZORYVE portfolio sales grew 452% year-over-year and 45% quarter-over-quarter, reaching $44.8 million, which is remarkably strong, particularly following the impressive growth we've had in previous quarters. Furthermore, our third quarter revenue run rate is an encouraging sign for an excellent finish to 2024 and provides us with strong momentum going into 2025, continuing to demonstrate the significant opportunity for ZORYVE.